Puhui Wealth Investment Managemnt’s (NASDAQ:PHCF) quiet period will expire on Tuesday, February 5th. Puhui Wealth Investment Managemnt had issued 2,000,000 shares in its public offering on December 27th. The total size of the offering was $12,000,000 based on an initial share price of $6.00. During the company’s quiet period, insiders and any underwriters involved in the IPO are prevented from issuing any earnings forecasts or research reports for the company because of regulations issued by the Securities and Exchange Commission. Following the end of the company’s quiet period, it’s expected that the brokerages that served as underwriters on the stock will initiate research coverage on the company.
Shares of PHCF stock traded up $0.07 on Tuesday, hitting $4.71. 7,200 shares of the company’s stock were exchanged, compared to its average volume of 8,593. Puhui Wealth Investment Managemnt has a 12 month low of $4.33 and a 12 month high of $6.30.
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About Puhui Wealth Investment Managemnt
Puhui Wealth Investment Management Co, Ltd., through its subsidiaries, provides third-party wealth management services in the People’s Republic of China. It manages funds for individuals and corporate clients. Puhui Wealth Investment Management Co, Ltd. has a strategic cooperation agreement with YINGKE Innovation Asset Management Co, Ltd.
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